The London Community Credit Union Saver Plus account is the savings account designed to help you save towards long-term financial goals. Your minimum initial deposit of £10 is held in this account.
We strongly discourage frequent withdrawals from this account, so use this account to save for the long-term.
There are many advantages to a Saver Plus account including:
- Regular contributions to your Saver Plus account can help you build a financial cushion over time. We recommend a minimum of £5 per month to as much as your circumstances allow.
- Free Life Savings Protection (up to £2,000) on savings held in your Saver Plus account. Payable to your nominated beneficiary in the event of your death.*
- The value of your Saver Plus account determines your shareholding (£1 = 1 share) in the credit union. This determines your annual dividend payment if one is awarded.**
- Check your Saver Plus balance via online or telephone banking.
- Your savings, up to £85,000, are protected by the Financial Services Compensation Scheme (FSCS)
*Terms and conditions apply
** Decided by member vote at the AGM